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August 1, 2016

Frank Warren, Queensberry Promotions

Bob Arum,  Top Rank, Inc.

Re: Negotiations for Mandatory WBO Lightweight Title Bout Between Terry Flanagan vs. Felix Verdejo

Gentlemen:

Please be advised the parties have 20 days to negotiate an agreement for the Mandatory WBO Lightweight Championship bout between Terry Flanagan and Felix Verdejo. If an accord is not reached within the time frame, a Purse Bid will be ordered.

The minimum acceptable bid for the Lightweight division is $150,000.00 (One Hundred Fifty Thousand Dollars).

Any one of the parties involved may call for a Purse Bid at any time during the negotiation process.

Yours truly,

Batista Salas signature

Luis Batista Salas, Esq.

C/c: Francisco Valcarcel